Arkema hope to create major PVC power through divestment
The group has decided to create an independent PVC provider by divesting its vinyl products business to the Klesch Group – a move Arkema believe will boost the division’s long-term development.
The company’s decision was driven by its ambition for accelerated growth within other areas of its business.
Through the agreement with the Klesch Group, Arkema plans to refocus investment elsewhere within its business.
The project will entail no restructuring of plants, and the company’s 1780 employees in France and 850 elsewhere will not be affected by the acquisition.
“We are delighted to announce this agreement with Arkema to acquire its Vinyl Products division. This acquisition provides the Klesch Group with a new growth platform and one which complements its existing operations,” said A. Gary Klesch, chairman of the Klesch Group.
The project remains subject to legal consultation and the approval of antitrust authorities.
